Union Budget – 2015–16 Interest Subvention Scheme in Banks: RBI

RBI/2014–15/557 FIDD.No.FSD.BC.53/05.04.02/2014–15

April 16, 2015

Please refer to our Cir­cu­lar FIDD. No. FSD.BC. 48/05.04.02/2014–15 dat­ed Jan­u­ary 21, 2015 on Inter­est Sub­ven­tion Scheme for Short-term Crop Loans for the year 2014–15. As regards the Scheme for the year 2015–16, Gov­ern­ment of India (GoI) has advised that present­ly var­i­ous alter­na­tive approach­es for improv­ing the effi­ca­cy of the Scheme are being exam­ined, the final­iza­tion of which may take some time.

2. In view of the above, it has been decid­ed by GoI, as an inter­im mea­sure, to imple­ment the Inter­est Sub­ven­tion Scheme for 2015–16, till JUNE 30, 2015, on the terms and con­di­tions approved for the Scheme for 2014–15, as con­tained in the above-cit­ed Cir­cu­lar. All banks are, there­fore, advised to take note and imple­ment the Inter­est Sub­ven­tion Scheme for 2015–16 accordingly.